Bank of Hawaii (BOH) Price Target Raised to $88.00 at Morgan Stanley
Bank of Hawaii (NYSE:BOH) had its target price upped by Morgan Stanley from $76.00 to $88.00 in a research report released on Wednesday. Morgan Stanley currently has an underweight rating on the bank’s stock.
Several other equities analysts also recently weighed in on BOH. Zacks Investment Research downgraded Bank of Hawaii from a hold rating to a sell rating in a research report on Tuesday, September 26th. Jefferies Group reissued a hold rating and set a $92.00 price target on shares of Bank of Hawaii in a research report on Wednesday, October 11th. Keefe, Bruyette & Woods reissued a hold rating and set a $88.00 price target on shares of Bank of Hawaii in a research report on Tuesday, October 24th. Finally, Piper Jaffray Companies reissued a hold rating and set a $90.50 price target on shares of Bank of Hawaii in a research report on Tuesday, October 24th. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $89.75.
Bank of Hawaii (NYSE:BOH) traded down $0.21 during midday trading on Wednesday, reaching $84.64. The company had a trading volume of 228,600 shares, compared to its average volume of 193,012. Bank of Hawaii has a 12-month low of $74.72 and a 12-month high of $90.80. The stock has a market cap of $3,604.31, a P/E ratio of 19.51, a P/E/G ratio of 2.26 and a beta of 0.97. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.22.
Bank of Hawaii (NYSE:BOH) last released its quarterly earnings results on Monday, October 23rd. The bank reported $1.08 earnings per share for the quarter, hitting the consensus estimate of $1.08. The company had revenue of $158.73 million during the quarter, compared to the consensus estimate of $163.29 million. Bank of Hawaii had a return on equity of 15.45% and a net margin of 27.27%. During the same quarter last year, the business posted $1.02 earnings per share. equities research analysts anticipate that Bank of Hawaii will post 4.42 earnings per share for the current year.
Bank of Hawaii announced that its board has initiated a stock repurchase program on Monday, October 23rd that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the bank to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 30th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend is Wednesday, November 29th. Bank of Hawaii’s payout ratio is 47.82%.
Hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP acquired a new stake in shares of Bank of Hawaii during the third quarter worth $117,000. Rocky Mountain Advisers LLC boosted its holdings in shares of Bank of Hawaii by 13,300.0% during the third quarter. Rocky Mountain Advisers LLC now owns 2,010 shares of the bank’s stock worth $168,000 after purchasing an additional 1,995 shares during the last quarter. Magnetar Financial LLC acquired a new stake in shares of Bank of Hawaii during the third quarter worth $203,000. World Asset Management Inc boosted its holdings in shares of Bank of Hawaii by 1.4% during the second quarter. World Asset Management Inc now owns 2,660 shares of the bank’s stock worth $221,000 after purchasing an additional 36 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in shares of Bank of Hawaii during the third quarter worth $240,000. Institutional investors and hedge funds own 75.67% of the company’s stock.
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Bank of Hawaii Company Profile
Bank of Hawaii Corporation is a bank holding company that operates through its subsidiary, Bank of Hawaii (the Bank). The Bank provides a range of financial products and services primarily to customers in Hawaii, Guam and other Pacific Islands. It operates in four segments: Retail Banking, Commercial Banking, Investment Services, and Treasury and Other.
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